Bare Knuckles Ag ™

USDA

Market reaction understated because China trade deal is underrated.

Background: Markets had nearly grown immune to reports of “progress” on ending the trade war with China because Beijing so regularly either denied any agreements had been reached or insisted what they had agreed to was “lost in translation” (overstated)…
Read more

USDA’s June WASDE Corn Price Forecast too S-T-I-N-G-Y by Historical Standards

Initially, the trade reaction to USDA’s June 11 WASDE balance sheet for corn was price friendly. Traders were surprised USDA cut the planted acreage estimate by 3 million from March Prospective Plantings this soon; not even waiting to see the…
Read more

Fate of 2019 “ghost acres” ?

Fate of 4 million “ghost acres” mysteriously missing from March Prospective Plantings Report Amid all the post-report hoopla regarding unexpectedly high planting intentions for corn, the bigger than expected drop in planned soybeans and the lowest wheat acreage since USDA…
Read more